Investment and Saving in Russian Macroeconomy. Compilation and Analyses of an aggregated SAM for Russia, 1995

Yasushi Nakamura

No 9809, CERT Discussion Papers from Centre for Economic Reform and Transformation, Heriot Watt University

Abstract: Assessing investment activity is a key to understanding the present Russian economy; the Russian official national accounts, however, do not give very much information on it because of their large statistical discrepancies. Using a matrix balancing method, we construct an aggregated Social Accounting Matrix (SAM), which integrates a Russian Flow of Funds table into the Russian national accounts and contains no discrepancies. Comparing the Russian SAM with Japanese and US SAMs, we find some characteristics of the Russian economy such as: a large current deficit in the non-financial corporation sector, different tax burdens for the institutional sectors, a low level of financial intermediation, and wage arrears as a kind of forced saving.

Keywords: SNA; SAM; investment-saving balance; financial sector. (search for similar items in EconPapers)
JEL-codes: C69 E22 O57 P24 (search for similar items in EconPapers)
Date: 1998
New Economics Papers: this item is included in nep-fmk and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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